If a demand curve shifts, we know that
A) the price of the good itself is not a factor.
B) the price of the good itself is a factor.
C) the price of the good and supply are the major factors.
D) the price of the good and demand are major factors.
A
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Refer to Figure 4-4. What is the value of consumer surplus at the equilibrium price of $15?
A) $60 B) $120 C) $180 D) $240
If purchasing power parity holds between the U.S. and China:
A. the real exchange rate must be 1. B. the nominal exchange rate must be 1. C. the U.S. must no longer have a trade deficit. D. China must no longer have a trade deficit.
Which of the following is NOT an example of a public good?
A. Government-subsidized public housing B. The ocean C. National defense D. Police protection
Suppose that Cambodia becomes the next popular tourist destination. You notice that hotels, restaurants, and other services cost much less there than in the United States. From the perspective of the U.S. dollar, what would be the real exchange rate of the Cambodian riel?
a) The real exchange rate would be 0. b) The real exchange rate would be 1. c) The real exchange rate would be greater than 1. d) The real exchange rate would be less than 1.